Diamondback Energy, Inc. $FANG Shares Purchased by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.8% in the second quarter, Holdings Channel reports. The firm owned 1,999 shares of the oil and natural gas company’s stock after buying an additional 109 shares during the period. Fragasso Financial Advisors Inc’s holdings in Diamondback Energy were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Boston Partners boosted its position in shares of Diamondback Energy by 4.8% in the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after purchasing an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after acquiring an additional 94,177 shares during the period. Demars Financial Group LLC lifted its position in Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock worth $655,953,000 after acquiring an additional 208,200 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Diamondback Energy by 4.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock valued at $468,846,000 after purchasing an additional 114,930 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on FANG shares. Bank of America boosted their price target on Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Mizuho cut their price target on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a report on Monday. Susquehanna cut their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. Finally, Morgan Stanley increased their price target on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $193.39.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $138.42 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The stock has a 50 day moving average of $142.50 and a two-hundred day moving average of $141.86. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The firm has a market cap of $40.07 billion, a P/E ratio of 9.84 and a beta of 1.14.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.Diamondback Energy’s quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.52 earnings per share. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s payout ratio is currently 28.43%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.